With 76% of operators saying their average food costs were higher in 2023, Casinos are increasingly leveraging food and beverage offerings to reduce those costs and attract new customers. In this pursuit, having a reliable Group Purchasing Organization (GPO) and procurement partner becomes paramount.

Enter Source1, the leading data and technology company specializing in hospitality procurement. By joining Source1, you can access high-quality food and beverage products, as well as all the operating supplies and equipment you need, at the lowest prices possible.

What Is a GPO?

A Group Purchasing Organization (GPO) in hospitality is a strategic procurement partner that leverages the collective buying power of its members—such as hotels, restaurants, casinos, and resorts—to negotiate discounted prices and value-added benefits from suppliers. By pooling their purchasing volume, hospitality businesses can access cost-effective solutions for essential products and services while maintaining quality standards.

GPOs streamline procurement processes, provide access to a diverse supplier network, and offer ongoing support to help businesses optimize their purchasing strategies and drive profitability.

How Does a GPO Benefit a Casino?

A GPO offers several benefits to casinos, including:

• Cost Savings: GPOs leverage the collective buying power of their members to negotiate discounted prices and favorable terms with suppliers. This allows casinos to access high-quality products and services at lower costs than if they were to negotiate individually.

 

• Access to Quality Products: GPOs often have established relationships with reputable suppliers, ensuring that casinos have access to a wide range of quality products and services for their operations.

 

• Streamlined Procurement: GPOs simplify the procurement process by providing a centralized platform for purchasing, invoicing, and tracking orders. This streamlines administrative tasks and saves time for casino staff.

 

• Transparency and Compliance: GPOs provide transparency in pricing and contracts, helping casinos ensure compliance with regulatory requirements and industry standards.

 

• Ongoing Support: GPOs often provide dedicated account management and customer support to help casinos navigate procurement challenges and optimize their purchasing strategies.

 

• Data and Analytics: Many GPOs offer data and analytics tools that allow casinos to track spending, identify cost-saving opportunities, and make more informed purchasing decisions.

 

Overall, partnering with a GPO can help casinos reduce costs, improve operational efficiency, and enhance their overall competitiveness in the market.

 

Why Choose Source1?

Source1 is the leading data and technology company specializing in hospitality procurement. Our members get access to a comprehensive suite of solutions tailored to meet the unique needs of casinos.  

Access to Quality Products at Competitive Prices

• As a Source1 member, you have access to a wide array of high-quality products at competitive prices. With our negotiated contracts, casinos can secure essential supplies and services without compromising on quality, thereby enhancing guest experiences while optimizing costs.

Transparency in Managed Procurement Network

• Managing procurement across multiple casino locations can be complex. Source1 simplifies this process by offering a managed procurement network that provides transparency in pricing, contracts, and supplier relationships. This transparency ensures consistency in quality and pricing across all casino locations, promoting operational efficiency and cost-effectiveness.

Fast and Easy Integration with No Fees or Minimums

• Integrating new procurement solutions shouldn’t be a hassle. Source1 offers a seamless integration process with no fees or minimums, allowing casinos to start benefiting from its services without unnecessary barriers. This streamlined approach minimizes disruption to casino operations and maximizes time and cost savings.

Actionable Analytics for Informed Decision-Making

• Data-driven decision-making is paramount. Source1 equips casinos with actionable analytics tools that provide insights into spending patterns, supplier performance, and cost-saving opportunities. By leveraging these analytics, casinos can make informed purchasing decisions that drive consistency and profitability across their operations.

Ongoing Account Support

• We understand that every casino has unique needs and challenges. That’s why we provide dedicated account management and ongoing support to our members. Our team of experts is committed to helping casinos navigate procurement challenges, optimize purchasing strategies, and maximize savings—all while saving time and resources.

 

Contact us today to unlock unparalleled savings, streamline your procurement processes, and enhance guest experiences with high-quality products at competitive prices.

Fill out the form below let Source1 be your trusted procurement partner. 

In the highly competitive hospitality industry, hotel operators constantly seek ways to optimize their profitability and streamline their operations. One effective strategy that has gained prominence is joining a Lodging and Travel Group Purchasing Organization (GPO).

These organizations bring together hotel operators to leverage collective buying power, negotiate favorable pricing, and access a network of trusted suppliers.

We will delve into the cost efficiency advantages that hotel operators can achieve by joining a Lodging and Travel GPO.

From enhanced purchasing power to streamlined procurement processes, we will explore the various ways in which GPO membership can help hotels maximize profitability and drive financial success.

So, let’s dive in and discover how hotel operators can unlock cost efficiency by harnessing the power of a Lodging and Travel GPO!

What is a Lodging and Travel GPO?

A Lodging and Travel GPO is an entity that brings together hotels, resorts, and other lodging establishments to leverage collective purchasing power for cost savings and operational efficiencies.

GPOs negotiate contracts and agreements with suppliers and service providers on behalf of their member hotels. By consolidating the purchasing volumes of multiple hotels, GPOs can secure discounted rates, preferential pricing, and other benefits from suppliers in various categories, such as furnishings, amenities, food and beverage supplies, linens, and technology solutions.

The GPO acts as a centralized platform, facilitating procurement processes and providing access to a network of preferred suppliers, streamlined purchasing options, and value-added services.

The primary goal of a lodging and travel GPO is to help hotel operators enhance their cost efficiency, optimize procurement, and maximize profitability.

By becoming a member of a Lodging and Travel GPO, hotel operators gain access to a collective purchasing power that is greater than what they could achieve individually.

The GPO leverages the collective buying strength of its members to negotiate better terms and pricing with suppliers, allowing hotel operators to secure cost savings on a wide range of products and services.

This collective strength allows them to secure discounted rates, volume-based rebates, and preferential pricing on a wide range of products and services, including furnishings, amenities, linens, food and beverage supplies, and more.

The increased leverage and buying power afforded by the GPO enable hotel operators to achieve substantial cost savings and enhance their overall cost efficiency.

When hotel operators join a Lodging and Travel GPO, they gain access to a pre-vetted network of preferred suppliers. These suppliers are chosen for their expertise in the hospitality industry and their ability to provide quality products and services at competitive prices.

By partnering with these preferred suppliers, hotel operators can tap into a curated list of trusted vendors offering quality products and services at competitive prices.

This also helps them establish strong relationships built on trust and reliability. The GPO acts as a trusted intermediary, facilitating connections and fostering collaboration between hotel operators and suppliers.

This streamlined network simplifies the procurement process. It ensures consistent access to trusted resources and enables hotel operators to secure the best possible deals and value from their suppliers.

It helps save time and ensures consistent access to reliable resources.

GPOs streamline the procurement process by providing a centralized platform for purchasing needs. Hotel operators can access a comprehensive marketplace where they can compare products, review supplier ratings, and place orders efficiently.

This platform simplifies the procurement process. It offers a one-stop-shop for sourcing needs, streamlining inventory management, eliminating the need for multiple vendor negotiations and time-consuming research.

Hotel operators can compare products, review supplier ratings, and place orders efficiently through the GPO’s streamlined interface, saving time, reducing administrative burden, and ensuring consistent procurement practices.

Joining a Lodging and Travel GPO allows hotel operators to exert greater control over their costs. The negotiated discounts and pre-negotiated pricing ensure more predictable and manageable expenses.

By leveraging the negotiated discounts and pre-negotiated pricing offered through the GPO, operators can ensure more predictable and manageable expenses. They gain access to cost-saving opportunities on a wide range of products and services, including furnishings, equipment, amenities, and more.

With the ability to secure better pricing and terms, hotel operators can optimize their budgets, allocate resources effectively, and make informed decisions regarding procurement.

This heightened cost control enables operators to proactively manage their costs, reduce wasteful spending, and ultimately enhance their overall financial performance.

Finally, you can take advantage of the many value-added services Lodging and Travel GPOs offer. These services go beyond cost savings and procurement efficiencies.

GPOs often provide additional resources such as benchmarking data, industry insights, best practice sharing, and educational materials. Hotel operators can benefit from these value-added services. They can gain valuable insights into industry trends, improve operational efficiency, and access expertise that can further enhance their cost management strategies.

By tapping into these resources, operators can stay informed, implement best practices, and continually optimize their operations for long-term success.

Overall, joining a Lodging and Travel GPO empowers hotel operators with increased purchasing power, access to trusted suppliers, streamlined procurement processes, cost control, and value-added services.

By leveraging the collective strength of the GPO, hotel operators can optimize their cost efficiency, enhance profitability, and focus on providing exceptional guest experiences.

Join Source1 today!